In Depth

World Bank: All of the major commodities may fall in price this year

This year could mark the rare occurrence when all of the nine major commodity price indexes decline, according to a World Bank forecast.

Star Bulk, a global shipping company providing transportation solutions in the dry bulk sector, today announced that it has entered into a binding agreement to sell for demolition the M/V Star Julia (ex “Powerful”), a 70,100 dwt Panamax vessel, built in 1994, to an unaffiliated third party, at a profit over net book value. The Company expects to deliver the Vessel to the buyers by early February 2015.

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Credit rating agency Standard & Poor’s downgraded its price forecasts for iron ore and copper due to slower global growth and said it expected changes to the ratings of related companies in the coming weeks.
Euronav NV announced today the upsizing and pricing of its initial public offering in the United States. The size of the offering has been increased from the initially announced 13,550,000 ordinary shares to 16,260,000 ordinary shares at an issue price per share of USD 12.25 for gross base proceeds of USD 199,185,000.
Greece’s Phoenix Shipping & Trading has had its 48,913-dwt bulker, Intrepid (built 1999) arrested in Singapore. The Liberia-flagged vessel was arrested by the admiralty sheriff on the instructions of local law firm Oon & Bazul.
Few things in Egypt are more iconic, revered and profitable than the Suez Canal. So in a bid to refloat the country’s ailing economy, President Abdul Fattah al-Sisi is building another one...
Western sanctions on Russia are restricting the Arctic shipping route along its north coast to domestic cargoes and energy exports with many foreign firms staying away after test voyages on a fabled short-cut between Europe and Asia.
A European Union high court has annulled sanctions that the 28-nation bloc imposed on an Iranian bank and a shipping line and companies linked to it, over Tehran’s nuclear program.
Whilst overall newbuilding interest subsided last year, the gas sector was one of the few areas to see contracting rise year-on-year and a record level of ordering was seen for LNG and LPG carriers in 2014.
Higher returns for shipowners in the Asian Aframax market is luring operators of clean LR2 tankers to convert a few of their ships to trade in the dirty segment, owners, brokers and charterers said Thursday, January 22.










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